The Daily Decrypt began the week of January 25, 2016, with an episode about decentralized cloud storage project Storj. The service stores the data on the unused disk space of those participating in its peer-to-peer network. Those offering unused disk space download and run a program called DriveShare and are known as ‘farmers’ and are paid Storjcoins commensurate to the amount of data they host.
Farmers have no access to the data they host because the files are split into pieces and encrypted on the customer’s computer before being distributed in pieces to the farmers on the network for hosting. Customers choose how many farmers they’d like to host their data and for how long. If a customer stops paying for storage, their files will simply expire from the network.
The Storj team recently announced their network had exceeded 2,000 TB of storage capacity with nearly 800 farmers participating in the network. Farmers are currently offering anywhere from 25 TB to .25 GB of data. While farmers are being paid in real Storjcoins for participating in what is known as Test Group B, they are not yet hosting customer data.
Storjcoins are considered to be colored Bitcoins that live on the Bitcoin blockchain via the Counterparty protocol. 500 million Storjcoin exist and are being paid out gradually to incentivize farmers to provide disk space as the network prepares for public launch.
Test Group C will be engaged shortly and farmers looking to participate in this phase of testing and be paid in real Storjcoins will need to download and run DriveShare as well as own 10,000 Storjcoins obtained via a cryptocurrency exchange in order to run the software.
If Storj determines it is ready to launch after the completion of Test Group C, it will become the world’s first decentralized cloud storage service.
For the remainder of the week, The Daily Decrypt served up on a hot plate the ultimate download of information on the latest and hottest topics in cryptocurrency competition with a series of interviews with prominent and compelling figures in the industry.
- What is Ethereum’s vision and is it dependent upon other networks?
- Why the upcoming switch from Proof-of-Work to Proof-of-Stake?
- What is ‘gas’ in Ethereum?
- Does Ethereum have a block size cap?
- What is the governance model of Ethereum?
- How is Ethereum development funded?
On Thursday, host Amanda interviewed Andreas Antonopoulos, author of popular Bitcoin book ‘Mastering Bitcoin‘ and notable Bitcoin pundit, about the latest with Bitcoin including ‘Segregated Witness’ and its purpose, soft forks and the function they serve, and sidechains.
The final episode of the week was an interview with Dr. Keith Smith of the Surgery Center of Oklahoma. The Daily Decrypt team first found the healthcare facility in 2014 while searching for healthcare with an upfront price tag available for exchange with Bitcoin. The facility is a fine example of functioning free market healthcare which gained notoriety after performing a surgery in exchange for Bitcoin and gold.
All episodes of The Daily Decrypt published to date can be found on their YouTube channel and weekly summaries will continue to be made available here at CORE Media.